The Art of Tetman Callis

Some of the stories and poems may be inappropriate for persons under 16

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Entries Tagged as 'Robin Blackburn'

Until they all fall down

December 1st, 2016 · No Comments

“The post-1972 take-off of financialization coincided with advances in computing capacity and the discovery of new mathematical techniques for valuing options and constructing derivatives. To begin with, these techniques were used mainly to reduce uncertainty and hedge currency risk. But before long it became clear that derivative swaps could be used to bamboozle tax authorities […]

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Tags: Economics · Robin Blackburn

On the road again

November 30th, 2016 · No Comments

“In order to grasp today’s capitalism we need financial analysis, but the phenomenon of financialization sucks oxygen from the atmosphere. It privatizes information that should be public, just as it commercializes everyday life and promotes a pattern of ‘uncreative destruction’ in which enterprises and work teams are continually broken up and re-assembled to take advantage […]

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Tags: Economics · Politics & Law · Robin Blackburn

Iceberg fields and shoal waters

November 29th, 2016 · No Comments

“A well-regulated stock exchange is a phenomenal source of information for all market participants. It generates second-by-second data concerning the volume and price of trades, and its settlement system registers the identity of buyers and sellers. The analytic feats of the financial economists were themselves based on such data. Yet the advent of structured finance […]

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Tags: Economics · Robin Blackburn

A point from which to move the world

November 28th, 2016 · No Comments

“Resort to ‘leverage’ in the financialized world supposedly enables individuals and corporations to get rid of ‘unrewarded risk’ and maximize outcomes. While the word ‘debt’ has a negative ring to it, the word ‘leverage’ is positive; indeed it is now often used as a verb, as we leverage our assets in order to reach for […]

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Tags: Economics · Robin Blackburn

The god we worship

November 27th, 2016 · No Comments

“The subprime debacle and its sequels train a spotlight on financialization. When properly embedded in structures of social control, finance can help to allocate capital, facilitate investment and smooth demand. But if it is unaccountable and unregulated it becomes sovereign in the re-allocation process, and can grab the lion’s share of the gains it makes […]

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Tags: Economics · Robin Blackburn